Bitcoin Daily Chart Alert - Bearish Chart Pattern Developing - Mar 13
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price trend reversals. Jim's unique and exclusive daily technical report is an absolute must for any trader/investor/market watcher who closely follows Bitcoin.
(Kitco News) - Bitcoin-U.S. dollar prices are firmer in early U.S. trading Tuesday. However, the recent downside price pressure and then a pause has created a bear flag or bearish pennant pattern. That suggests more selling pressure later this week. Stay tuned! Jim Wyckoff